Flinks, a financial API for banks and credit unions, announced a partnership with Merchant Advance Capital, an online lender for small and medium-sized businesses.
Merchant Advance Capital partnered with Flinks to reduce loan approval time for its customers. Flinks will allow Merchant Advance Capital to connect its app directly with customers’ banks, allowing the company to validate account ownership, account balances, and transaction histories.
“We’re responding to a demand for quicker access to capital among Canada’s SMB owners,” said Dave Gens, CEO and Founder of Merchant Advance Capital. “When selecting a partner, we felt Flinks shared our goal to improve financing options for underbanked SMBs across Canada, thereby helping this part of the economy grow.”
In early July, Flinks raised a $500,000 pre-seed round with the goal of bringing a more “data-driven aspect” to its API to include assessing fraud risk or credit score information of a user.
“We’re happy to open up banking data for Merchant Advance Capital,” said Yves-Gabriel Leboeuf, CEO of Flinks. “The fit between the two companies couldn’t be better, as we share a common mission: increasing accessibility for superior financial products.”